Investments
In December 2025, Evergreen exited its investment in The Oaks Medical Center, earning a 17% plus annual return and a 1.6 equity multiple for our investors over a 3-year period.
The building was acquired in December 2022 through an ‘off market’ transaction and is located in Bedford, TX, just 6 miles from DFW Airport. With approximately 60,000 SF it is two blocks from Texas Health Harris Methodist Hospital H-E-B. The Oaks was 73% leased to 7 medical related tenants at acquisition and offered substantial upside. The building contained a vacant, but previously operational, Ambulatory Surgery Center.
In-place rents were approximately 25% below market. With a targeted capital improvement program in year one, we achieved substantial rate increases and leased the remaining ASC space in 2025, significantly increasing NOI.
Healthcare Investment: The Oaks Medical Center
Evergreen acquired the 6-acre development parcel and completed construction in 15 months. The rehabilitation hospital is located directly across from the 272,538 square feet Presbyterian Hospital of Denton. The building, leased by a national healthcare company, was sold to HTA within a year of completion achieving a 40% plus IRR for our investor.
Healthcare Development: Rehabilitation Hospital of North Texas
Mixed Use Development: Times Square at Craig Ranch
Times Square at Craig Ranch is a mixed-use development in the world-class, master-planned Craig Ranch in McKinney, TX. The building, completed in 2009, consists of five stories containing over 400,000 total square feet, and includes a 4-story structured parking garage. The architecturally distinctive Times Square at Craig Ranch has a residential component offering 313 upscale apartments, and an additional 80,000 square feet of prime retail space. The building is located at the main corner in Craig Ranch’s Town Center, just across from the TPC Craig Ranch Golf Club.
High-Rise Residential: Lake Cliff Tower Condominiums
Evergreen completed the conversion of the historically significant Lake Cliff Tower into 54 luxury condominium homes in 2007. The 12-story Mediterranean style Lake Cliff Tower is located near downtown Dallas, at the gateway to Oak Cliff. The sale of all condominiums was completed in 2010.
Evergreen negotiated economic incentives with the City of Dallas totaling approximately $4.1 million to assist with this development.